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Jul. 8, 2014

Glendale Office Complex Trades for $9M; Pacific Realty Advisors Plans Industrial Project in Mesa

By Liviu Oltean, Associate Editor

In a $9.1 million deal, Select Healthcare Solutions L.L.C., Phoenix Cyberknife and Radiation Oncology Center L.L.C. have acquired Zanjero Falls, a 147,405-square-foot Class A office property at 7410 N. Zanjero Blvd. in Glendale. The sale and purchase agreement includes about 10 developable acres.

Completed in 2008 but never occupied, Zanjero Falls comprises a one-story and three-story office building. Distinctive design elements include Spanish Colonial architecture, Cantera stone and wrought iron, resort-style landscaping with synthetic turf and a signature water feature and bridge at the main entrance.

“The sale of Zanjero Falls to Select Healthcare Solutions and Phoenix Cyberknife is an indication we are continuing to see improvement in the West Valley office market,” said Cassidy Turley Senior Managing Director Steve Lindley in a statement. The transaction was arranged by a Cassidy Turley capital markets team that included Lindley and fellow Senior Managing Directors Bob Buckley and Tracy Cartledge; Executive Managing Director Eric Wichterman; and Senior Vice President Mike Coover. TJ Zaharis of COBE Real Estate represented the seller, RCFC Zanjero Falls.

In local development news, Pacific Realty Advisors will break ground this year on a 211,505-square-foot industrial project in Mesa, according to a statement from Cassidy Turley. Situated at the northwest corner of Broadway and Dobson roads, the project will consist of a 147,670-square-foot warehouse and distribution building and a 63,835-square-foot general industrial building. The former will have 32-foot clear height with 28 dock- and five grade-level doors, while the latter will have 26-foot clear height with 10 truck-well- and 12 grade-level doors.

“Clearly, there is major demand for this product type in the Southeast Valley,” said Cassidy Turley Executive Managing Director Andy Markham. “This location is also ideal for distribution and general industrial given its proximity to three major freeways and deep employment base.”

Photo Courtesy of Cassidy Turley

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